5/20/2022
This is a brief descriptive report highlighting some finds from a quick analysis of a Kaggle Dataset on Chinese Debt in 50 countries from Africa. There were 1188 observations in the dataset with 7 variables named: “S.no”,“Project”,“Year”, “Lender”,“$ Allocation”,“Country” and “Invested On”.
The major variable of interest was the Allocation (Debt) amount in dollars.
| Chinese Lender | Loan Amount |
|---|---|
| CHEXIM | $87.0B |
| CDB | $38.8B |
| ICBC | $9.9B |
| MixedCN: Industrial and Commercial Bank of China Ltd. (ICBC), Export-Import Bank of China (CHEXIM), Bank of China (BoC), China Construction Bank (CCB), China Minsheng Bank, Ping An Bank Co., Ltd., Bank of China (BoC) | $3.7B |
| Zhongxing Telecommunication Equipment Corporation (ZTE) | $2.6B |
| MixedCN: CHEXIM, Industrial and Commercial Bank of China, Bank of China, Minsheng Bank, China CITIC Bank, Construction Bank, Kuwait National Bank, and HSBC | $2.5B |
| CIDCA | $2.2B |
| BoC | $2.0B |
| MixedCN: Export-Import Bank of China (CHEXIM), Industrial and Commercial Bank of China Ltd. (ICBC) | $1.5B |
| China Machinery Engineering Corporation (CMEC) | $1.4B |
| Rank | Country | Frequency of Loan Entries |
|---|---|---|
| 1 | Angola | 254 |
| 2 | Zambia | 78 |
| 3 | Sudan | 66 |
| 4 | Democratic Republic of Congo | 59 |
| 5 | Ghana | 53 |
| 6 | Ethiopia | 52 |
| 7 | Cameroon | 45 |
| 8 | Kenya | 43 |
| 9 | Republic of Congo | 36 |
| 10 | Mauritius | 31 |
| Rank | Country | Loan Amount |
|---|---|---|
| 1 | Angola | $42.6B |
| 2 | Ethiopia | $13.7B |
| 3 | Zambia | $10.0B |
| 4 | Kenya | $9.3B |
| 5 | Egypt | $7.8B |
| 6 | Nigeria | $7.3B |
| 7 | Cameroon | $6.2B |
| 8 | South Africa | $5.4B |
| 9 | Republic of Congo | $5.4B |
| 10 | Ghana | $5.3B |
| 11 | Sudan | $4.8B |
| 12 | Cote d’Ivoire | $3.6B |
| 13 | Uganda | $3.6B |
| 14 | Zimbabwe | $3.0B |
| 15 | Equatorial Guinea | $3.0B |
| 16 | Guinea | $2.7B |
| 17 | Regional | $2.4B |
| 18 | Mozambique | $2.4B |
| 19 | Democratic Republic of Congo | $2.3B |
| 20 | Tanzania | $2.1B |
| 21 | Senegal | $2.0B |
| 22 | Gabon | $1.7B |
| 23 | Djibouti | $1.5B |
| 24 | Morocco | $1.2B |
| 25 | Botswana | $951.0M |
| 26 | Chad | $770.0M |
| 27 | Sierra Leone | $752.0M |
| 28 | Mali | $731.0M |
| 29 | Niger | $699.0M |
| 30 | Togo | $687.0M |
| 31 | Mauritania | $657.0M |
| 32 | Eritrea | $631.0M |
| 33 | Rwanda | $629.0M |
| 34 | Mauritius | $626.0M |
| 35 | Benin | $536.0M |
| 36 | Namibia | $500.0M |
| 37 | Madagascar | $468.0M |
| 38 | South Sudan | $407.0M |
| 39 | Malawi | $264.0M |
| 40 | Lesotho | $193.0M |
| 41 | Central African Republic | $164.0M |
| 42 | Burkina Faso | $157.0M |
| 43 | Tunisia | $131.0M |
| 44 | Burundi | $128.0M |
| 45 | Comoros | $122.0M |
| 46 | Liberia | $55.0M |
| 47 | Cape Verde | $49.0M |
| 48 | Seychelles | $35.0M |
| 49 | The Gambia | $25.0M |
| 50 | Algeria | $9.0M |
| Rank | Sector | Loan Amount |
|---|---|---|
| 1 | Transportation | $46.8B |
| 2 | Power | $40.5B |
| 3 | Mining | $18.0B |
| 4 | ICT | $13.5B |
| 5 | Water | $7.4B |
| 6 | Other social | $5.6B |
| 7 | Multisector | $3.8B |
| 8 | Industry | $3.6B |
| 9 | Defense | $3.5B |
| 10 | Government | $3.4B |
| 11 | Banking | $2.5B |
| 12 | Unallocated | $2.5B |
| 13 | Agriculture | $2.2B |
| 14 | Budget | $2.1B |
| 15 | Education | $1.7B |
| 16 | Business | $1.5B |
| 17 | Health | $1.0B |
| 18 | Trade | $139.0M |
| 19 | Other commodity | $100.0M |
| 20 | Food | $46.0M |
| 21 | Environment | $38.0M |
| Project | Year | Lender | $ Allocation | Country | Invested On |
|---|---|---|---|---|---|
| Economic and Technical Agreement | 2002-06-17 | CIDCA | $6M | Algeria | Unallocated |
| Sonangol Recapitalization | 2016-06-17 | CDB | $10.0B | Angola | Mining |
| Akassato-Bohicon Road Lot 3, 72.1km | 2013-06-17 | CHEXIM | $132M | Benin | Transportation |
| Morupule B Coal-Fired Power Station Expansion Project 600MW | 2009-06-17 | ICBC | $825M | Botswana | Power |
| SMART Burkina Project | 2020-06-17 | CHEXIM | $80M | Burkina Faso | ICT |
| Digital Broadcasting Upgrade | 2017-06-17 | CHEXIM | $33M | Burundi | ICT |
| Yaounde Potable Water Supply from Sanaga River (PAEPYS) | 2015-06-17 | CHEXIM | $678M | Cameroon | Water |
| E-government Phase I - National Data Center | 2010-06-17 | CHEXIM | $17M | Cape Verde | ICT |
| Mobile and Fixed Network | 2005-06-17 | Zhongxing Telecommunication Equipment Corporation (ZTE) | $60M | Central African Republic | ICT |
| N’Djarmaya Oil Refinery | 2011-06-17 | CHEXIM | $330M | Chad | Industry |
| Network Modernization Project | 2018-06-17 | CHEXIM | $82M | Comoros | ICT |
| Abidjan Port Expansion | 2014-06-17 | CHEXIM | $793M | Cote d’Ivoire | Transportation |
| Zongo II Hydropower Station 150MW | 2011-06-17 | CHEXIM | $367M | Democratic Republic of Congo | Power |
| Addis-Djibouti Railway (Djibouti share), 100km, Ali Sabieh to Nagad | 2013-06-17 | CHEXIM | $492M | Djibouti | Transportation |
| New Cairo City Central Business District | 2019-06-17 | MixedCN: CHEXIM, Industrial and Commercial Bank of China, Bank of China, Minsheng Bank, China CITIC Bank, Construction Bank, Kuwait National Bank, and HSBC | $2.5B | Egypt | Government |
| Malabo, Bata, and Ruba- 4,800 Units of Social Housing | 2007-06-17 | CHEXIM | $380M | Equatorial Guinea | Other social |
| Agro-processing Projects - 3 Food Cold Storage Warehouses in 3 Cities, 1 Canning Factory, Drip-irrigation PVC Pipe Production Factory | 2012-06-17 | CHEXIM | $101M | Eritrea | Industry |
| Millenium Plan Telecom Project Phase I, II, III | 2006-06-17 | Zhongxing Telecommunication Equipment Corporation (ZTE) | $1.9B | Ethiopia | ICT |
| Port Gentil-Omboue Road and Booue Bridge, 93km, CommL Portion | 2013-06-17 | CHEXIM | $493M | Gabon | Transportation |
| Western Corridor Gas Infrastructure Project, Jubilee Oil Field | 2012-06-17 | CDB | $850M | Ghana | Power |
| Souapiti Hydropower Project 450MW | 2018-06-17 | CHEXIM | $1.2B | Guinea | Power |
| SGR Phase I - Mombasa to Nairobi 472.3km (CommL portion, total 3.6bn) | 2014-06-17 | CHEXIM | $2.0B | Kenya | Transportation |
| Ha-Mpiti to SehlabaThebe Road 92km | 2018-06-17 | CHEXIM | $98M | Lesotho | Transportation |
| Roberts International Airport Rehabilitation | 2017-06-17 | CHEXIM | $50M | Liberia | Transportation |
| Rehabilitation of National Road RN5A Ambilobe-Vohemar, 150km | 2019-06-17 | CHEXIM | $157M | Madagascar | Transportation |
| Bingu International Conference Center, The Presidential Hotel and Presidential Villas | 2009-06-17 | CHEXIM | $92M | Malawi | Other social |
| Mali Digital 2020 (Mali Numerique 2020) | 2018-06-17 | CHEXIM | $164M | Mali | ICT |
| Nouakchott Friendship Port Expansion | 2009-06-17 | CHEXIM | $293M | Mauritania | Transportation |
| Sir Seewoosagur Ramgoolam International Airport (SSR) Upgrade - Passenger Terminal | 2009-06-17 | CHEXIM | $260M | Mauritius | Transportation |
| Equipment purchase | 2008-06-17 | CHEXIM | $515M | Morocco | Unallocated |
| Maputo-Catembe Bridge, Katembe Bridge/Ponta D’Ouro Road, 3km | 2012-06-17 | CHEXIM | $682M | Mozambique | Transportation |
| Purchase of 10% Stake in Husab Uranium Mine | 2012-06-17 | Swakop Uranium (SU) | $223M | Namibia | Mining |
| SORAZ Oil Refinery Near Zinder | 2008-06-17 | CHEXIM | $352M | Niger | Industry |
| Lagos-Ibadan Railway Modernisation Project II | 2017-06-17 | CHEXIM | $1.3B | Nigeria | Transportation |
| Afreximbank: Medium to Long Term Financing for Sub- Projects in Various Sector | 2018-06-17 | CDB | $500M | Regional | Banking |
| National Route 1, Pointe-Noire-Brazzaville Road, Phase II (Dolisie-Brazzaville, 376km) | 2012-06-17 | CHEXIM | $1.2B | Republic of Congo | Transportation |
| Nyabarongo River Dam II, 224MW; 110kV Evacuation Transmission Line | 2020-06-17 | CHEXIM | $214M | Rwanda | Power |
| Thies-Touba Toll Highway, 113km | 2015-06-17 | CHEXIM | $689M | Senegal | Transportation |
| Les Mamelles Housing Project Phase I - 203 Units | 2007-06-17 | CHEXIM | $14M | Seychelles | Other social |
| Queen Elizabeth II Quay Update | 2017-06-17 | ICBC | $659M | Sierra Leone | Transportation |
| Medupi Coal Power Plant expansion (6X794=4800MW) | 2017-06-17 | CDB | $1.5B | South Africa | Power |
| Air Traffic Management System | 2018-06-17 | CHEXIM | $249M | South Sudan | Transportation |
| Al Fulah Gas-Power Plant 300 MW | 2009-06-17 | CHEXIM | $612M | Sudan | Power |
| Tanzania Petroleum Development Corporation (TPDC) Natural Gas Processing Plants and Pipeline, PEBC part (Mnazi Bay to Dar es Salaam - Mtwara Province Gas Pipeline, 432km) | 2012-06-17 | CHEXIM | $920M | Tanzania | Power |
| Gambia National Broadband Network Project | 2018-06-17 | CHEXIM | $25M | The Gambia | ICT |
| Phase I Togolese Road Network Renovation - Lome bypass, Aledjo Fault bypass, Montagne de Defale bypass, Asphalting of N1 between Tandjouare and Cinkasse (Togo-Burkina border), 12.1km | 2009-06-17 | CHEXIM | $99M | Togo | Transportation |
| Purchase of 20 trains | 2009-06-17 | CHEXIM | $80M | Tunisia | Transportation |
| PEBC part- Karuma Hydropower Project 600MW; 400kV Karuma-Kawanda & 400kV Karuma-Olwiyo & 80km Karuma-Lira Transmission Lines, 132kV; 6 Substations 400kV | 2015-06-17 | CHEXIM | $789M | Uganda | Power |
| Kafue Gorge Lower Hydropower Project, 750MW | 2017-06-17 | MixedCN: Export-Import Bank of China (CHEXIM), Industrial and Commercial Bank of China Ltd. (ICBC) | $1.5B | Zambia | Power |
| Hwange Coal Power Station Expansion 600MW Phase III - Units 7&8 | 2016-06-17 | CHEXIM | $998M | Zimbabwe | Power |
Top 5 Borrowers
The following two charts compares the borrowing patterns of the highest and lowest borrowers in Africa.The colored ribbon shows the 95% confidence interval and the colored line represents the linear regression model.
Aside the noticeable difference in the amounts usually borrowed, there is a stark contrast in the frequency of borrowing. *(NB: Some outliers were taken out so the highest value on the y-axis does not indicate the highest amount borrowed.)
As shown below, Africa’s top 3 borrowers spent the most on Mining and the least on the Environment. Quite ironic! 
Here’s an overview of how the 16 countries in West Africa fared: The first graph gives a sense of the usual borrowed amounts per country, and the 2nd shows the total amount borrowed over the period per country.
At the tail of this report, we take a quick peek at Ghana. We look at Ghana’s investment patterns and see the sad story of its most invested area.
